Tel Aviv/Zurich, January 23, 2008 - Swissport International is very much looking forward to the opening of its new cargo terminal at Ben-Gurion Airport in Q2 2008. Furthermore, Israel Infrastructure Fund (IIF) becomes a strategic partner of this important cargo-development with a purchase of 16% of the shares what adds more long-term value and perspectives to this business-venture.
According to the latest local information, all construction works are on time and the new cargo facilities should be operationally ready very soon. With this new building Swissport will be able to offer state of the art warehouse technology and smooth logistic services with a total annual potential cargo capacity in the range of 200000 tons.
Further good news are that Israel Infrastructure Fund (IIF) entered the field of aerial cargo handling and invested in Swissport Cargo Services Israel Ltd.'s new aerial cargo terminal. The Fund purchased from Laufer Aviation Ltd.'s its share of 16% in Swissport Cargo Services Israel Ltd. Swissport Israel is owned by Swissport International Ltd. (51%), Dankner Investments Ltd. (20%), Israel Infrastructure Fund (16%) and C.A.L Cargo Air Lines Ltd. (13%).
Swissport Israel will operate the terminal for a period of 20 years. As part of the project, Swissport Israel constructed the cargo terminal and an office building for the company on total area of 18 thousand square meters with initial investment of around USD 20 million. Mr. Yaron Kestenbaum, CEO of IIF explained: the fund's decision to invest in the aerial cargo terminal derives from the growth potential in the field over the coming years.
IIF considers this to be a strategic investment for the fund. At the same time, Mr. Per H. Utnegaard, President & CEO of Swissport International Ltd., is equally satisfied and said: I expect from IIF to bring professional involvement to the project in terms of financing and local relationships. He believes that for Swissport to enter into new markets the quality of the local partners is a dominant factor in the success of the venture.
Swissport Cargo Services looks back to a successful year 2007
At over 80 stations, SCS was able to generate total revenues close to CHF 450 million in 2007 which represents a double digit growth compared with the previous year. Also the outlook for 2008 looks very promising with a strong focus on quality-control, product-innovation and network-expansion.
